1. List and briefly describe four reasons why estimating time and cost are important to project management.
2. Identify and describe the four stages of the Project Life Cycle. Provide an example for each stage.
3. What is more important for project success, the formal project management structure or the culture of the parent organization? Why?
4. What are the major differences between managing a process and managing a project? Provide an example.
5. Why is profitability alone not an adequate measure of a project’s value to an organization?
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